Amazon Pay enables instant money transfer on Android

Amazon Pay on Monday launched person-to-person (P2P) payments for Android users who can now make instant bank-to-bank transfers using the UPI platform on the Amazon app.

Amazon customers can also pay bills, rent and various daily subscriptions, the company said in a statement.

"With this launch, we have the largest selection of shopping and payment use cases on the Amazon Android app which provides added convenience and control to our customers," said Vikas Bansal, Director-Amazon Pay.

Customers can send or receive P2P payments by simply selecting a contact from their phone contact book or entering UPI ID or bank account of the recipient.

"Amazon auto-detects if the contact is a registered Amazon Pay UPI customer and enables instant bank to bank transfer. If the contact is not registered for Amazon Pay UPI, the customer has the option to pay using any another BHIM UPI ID or contact's bank account," the company said.

As a launch offer, customers can get up to Rs 120 cashback on sending money through UPI.

All payments are secured through multi-factor authentication involving the customer's phone, SIM details and UPI PIN.

"Our goal is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers," said Bansal.